Good Evening Moneycontrol users. This blog will keep track of key global and local developments impacting business and markets through the day. Important local and global political developments will also find resonance here.

The Gurgaon Police detained and questioned Harpal Singh, a gardener at the Ryan International School, who is a key witness in the murder of a class II student, and is likely to make more arrest, a senior SIT officer said today.

Meanwhile, the Bombay High Court rejected the anticipatory bail pleas of three trustees of the Ryan International Group but granted them interim protection from arrest till tomorrow to enable them file appeal, report PTI.

The court also directed the group's CEO Ryan Pinto and his parents Augustine Pinto, the founding chairman, and Grace Pinto, the group's managing director, to submit their passports to the Mumbai police.

Sep 14, 07:50 PM (IST)

The CBI has taken over investigation of 20 cases pertaining to chit fund scam believed to be involving funds of over Rs 25,000 crore in Jharkhand on the directions of the state High Court, reports PTI.

These cases were investigated by the Jharkhand Police so far, the CBI FIRs say.

Sep 14, 07:14 PM (IST)

IDBI Bank has sold 12.5 lakh equity shares in Clearing Corporation of India (CCIL).
"IDBI Bank has sold 12,50,000 equity shares constituting 2.5 percent of the paid up capital of Clearing Corporation of India on September 13," the bank said in a regulatory filing.
CCIL clears and settles transactions in money, government bonds, foreign exchange and derivative markets.

Sep 14, 06:12 PM (IST)

US consumer prices accelerated in August amid a jump in the cost of gasoline and rents, signs of firming inflation that could allow further monetary policy tightening from the Federal Reserve this year.

The Labor Department said on Thursday its Consumer Price Index rose 0.4 percent last month after edging up 0.1 percent in July. August’s gain as the largest in seven months and lifted the year-on-year increase in the CPI to 1.9 percent from 1.7 percent in July.

Economists polled by Reuters had forecast the CPI rising 0.3 percent in August and climbing 1.8 percent year-on-year.

Growing ties between India and Japan should be conducive to the peace and stability, China today said adding that the countries should work for partnership instead of forming an alliance.

The comments by the Chinese Foreign Ministry came as New Delhi and Tokyo sought to firm up their close ties during Japanese Prime Minister Shizo Abe's visit to India, reports PTI.

Sep 14, 04:19 PM (IST)

Rohingyas are threat to national security, can't stay in India as refugees: Centre to SC

Sep 14, 04:02 PM (IST)

The TTV Dinakaran faction of AIADMK moved the Madras High Court on Thursday, demanding a floor test in the Tamil Nadu Assembly, reports The Indian Express. This comes after the sidelined leader, last week, appealed to the Tamil Nadu Governor Ch Vidyasagar Rao to take an action on the plea seeking ouster of Chief Minister K Palaniswami, his deputy O Panneerselvam and the demand for a floor test in the Assembly.

Sep 14, 03:57 PM (IST)

The Rajasthan Police have given a clean chit to six men accused in the killing of Pehlu Khan, reports Hindustan Times. The police came to the decision based on statements of the staff of a cow shelter and mobile phone records. Khan was beaten up by a group of men near Alwar while he was transporting cattle to Haryana. He had named six men in his statement to the police shortly before he succumbed to injuries. Khan had the required permit to carry the cattle.

Sep 14, 03:55 PM (IST)

Even as Prime Minister Narendra Modi and his Japanese counterpart Shinzo Abe launched the Ahmedabad-Mumbai bullet train project, a group of farmers from Boisar in Palghar district protested against the project fearing acquisition of their lands, reports PTI. The farmers, who held the demonstration outside Boisar railway station, said they will be ruined if their agricultural lands are acquired for the project.

Sep 14, 03:51 PM (IST)

The bus conductor, who has been accused of murdering a Class 2 student in a washroom of Ryan International School in Gurugram, was masturbating when the child entered the restroom and had not planned the murder, reports CNN-News18. Ashok Kumar, the accused, entered the washroom through the main door, and not the broken window as was being speculated, and had gone in to clean a knife which he was carrying. Sources stated that the accused was not a paedophile.

Sep 14, 03:46 PM (IST)

Max Life Insurance is scouting for business opportunities with insurance companies backed by a banking division after its plan to merge with HDFC Life hit a dead-end due to regulatory hurdles, reports PTI. "We keep on exploring, it is an ongoing process. We will be looking for business opportunities both with private and public sector banks (who are into life insurance business)," Rajesh Sud, Executive Vice-Chairman and MD, Max Life Insurance said.

Sep 14, 03:43 PM (IST)

Hike in coal production in the last three years has helped Coal India save Rs 25,900 crore in foreign exchange, interim Chairman and Managing Director Gopal Singh said. "Coal production has increased substantially in the last three years (fiscals), resulting in savings of Rs 25,900 crore in imports," Singh said in his address to shareholders at the company's annual general meeting here.

Sep 14, 03:40 PM (IST)

Volkswagen has recalled 4.86 million vehicles in China over faulty airbags, reports AFP.

Sep 14, 03:38 PM (IST)

Actress Priyanka Chopra is facing backlash after she referred to Sikkim as a state "troubled with insurgency" in her recent interview to ET Canada, at the Toronto International Film Festival. To stem the rising backlash, the actress has now apologised to the Sikkim government. Her mother Madhu Chopra too had a word with Sikkim Tourism Minister Ugen Gyatso to apologise for the statement by Priyanka.

Sep 14, 03:18 PM (IST)

Gold took strength from a positive trend overseas by surging Rs 650 per 10 grams to seize the Rs 31,000 level, driven up by fresh local buying. However, silver fell sharply by Rs 350 to Rs 41,500 per kg, mainly due to softening demand by industrial units and coin makers. Bullion traders said robust demand from local jewellers as well as retailers too fed the rally in gold prices.

Sep 14, 02:58 PM (IST)

The Madras High Court has ruled out floor test in Tamil Nadu till September 20.

Sep 14, 02:48 PM (IST)

Prime Minister Narendra Modi said Japan invested USD 4.7 billion in India in FY17, which was 80% higher than last year.

Sep 14, 02:35 PM (IST)

China has dismissed the 10th summit between Prime Minister Narendra Modi and his Japanese counterpart Shinzo Abe as emotional moves bereft of any impact on the ground, reports Global Times. China is not scared of the two countries coming together despite all the talk of Japan sharing submarine technology with India which would be an effective counter to China's expanding influence the Indian Ocean. Nor does it seem to have affected by the two countries planning an Asia Africa Growth Corridor, an answer to China's much hyped Belt and Road Initiative.

Sep 14, 02:31 PM (IST)

Stressed assets in the banking system are not expected to rise significantly from current levels of Rs 11.5 lakh crore, or 14% of total advances, suggests a report by rating agency Crisil.

Sep 14, 02:22 PM (IST)

State-run miner Coal India is emphasising on “quick” and “swift” exploitation of the domestic fossil fuel reserves in order to meet future demand and reduce imports, an official said. “The large planned new coal based thermal capacity is likely to put pressure on coal resources. Coal based power generation capacity of 125 gigawatt in 2012 is likely to go up to more than 330-441 GW by 2040 (192 GW in FY 2017),” the company’s newly appointed interim Chairman Gopal Singh said while addressing the shareholders in the 43rd Annual General meeting. “The demand for these plants is likely to be first met by domestic coal, which will require quick exploitation of our reserves,” Singh added.

Sep 14, 02:20 PM (IST)

For Congress Vice President Rahul Gandhi, the news from Bihar just got worse. After just about managing to avert a split last week, Bihar Congress may be again heading into the danger zone as there is talk that its state unit chief and CLP leader want to leave the party.

According to the Indian Express, Bihar Congress state president Ashok Kumar Choudhary could lose his position which could raise the possibility of a split yet again. Several Bihar MLAs have complained to Congress VP about Choudhary and accused him of “being part of any rebel group that had got signatures of 14 MLAs for a merger with JD(U)”. However, he has denied all the allegations.

Sep 14, 02:18 PM (IST)

Tata Chemicals is in advanced talks with the Netherlands-based Indorama Holdings BV to sell its Haldia fertiliser unit in West Bengal for Rs 400-500 crore. Indorama Holdings is a subsidiary of Singapore-based Indorama Corporation.

Sep 14, 02:16 PM (IST)

The Securities Exchange Board of India (Sebi) has ordered forensic audit of three firms -- Trinity Tradelink, Info-Drive Software and Edynamics Solutions -- which figure among 331 suspected shell companies that are under its scanner. These are in addition to Sebi ordering forensic of four other such firms -- IRIS Mediaworks, Hit Kit Global Solutions, Kavit Industries and GV Films. In three separate orders dated September 13, Sebi has observed that prima facie Edynamics Solutions (ESL), Info-Drive Software (ISL) and Trinity Tradelink (TTL) were involved in misrepresentation of books of accounts.

Sep 14, 01:46 PM (IST)

According to NGT, one 10-year-old diesel vehicle can cause pollution equal to 24 petrol and 40 CNG vehicles.